Opening a multi-unit franchise is one of the quickest, most reliable ways to succeed financially. Learn five keys to becoming a successful multi-unit owner.
A multi-unit franchise involves a franchisee buying the rights from a franchisor to own and run more than one location within a designated territory. The arrangement is potentially profitable for both the franchisee and the franchisor since both reap the benefits of an expanding business. Many types of establishments have the potential for growth and financial reward in the multi-unit business model. Some examples include home health care, flooring services, gyms and fitness studios, beauty salons and barbershops, pizza restaurants, and coffeehouses.
There are some things to consider as you look for a lucrative investment opportunity as a multi-unit franchise owner. On the positive side, your chance of success increases with every unit you own. Economies of scale allow for lower costs per unit, and you have greater buying power as a member of a franchise family. You’ll also have greater influence in the franchise since the more units you own, the more the franchisor will respect and listen to you. Your return on investment is greater due to lower costs and the likelihood of success. However, your investment is greater when multiple units are involved, so adequate finances can be an issue for some investors. As the owner of multiple units, you can’t be everywhere at once; you will need to rely on trusted employees to help you manage your business. Having previous business and management experience can be an advantage since you’ll be working on a larger scale.
Multi-unit owners need a particular set of skills in order to succeed. Previous business experience will help you monitor your shops’ performances. Leadership skills will be crucial when entrusting your businesses to a team of managers and employees. Communication is essential to keep operations running smoothly and employees happy across multiple units. And since multi-unit owners can’t be everywhere at once, delegating to your team is necessary.
Let’s look at five keys for successfully choosing a brand:
Scooter’s Coffee® is an established brand with a reputation for quality led by a management team with years of experience in the specialty coffee business. The Scooter’s Coffee promise is Amazing Drinks, Amazing People…Amazingly Fast. Along with coffee, we offer teas, smoothies, and food at affordable prices. Consumers can customize their menu choices to their tastes, creating satisfaction and loyalty.
Scooter’s Coffee has prime locations available across the U.S. We were ranked No. 66 on this year’s Entrepreneur Franchise 500. And the more Scooter’s Coffee expands, the more demand there is from consumers for our specialty drinks. Scooter’s Coffee has two proven drive-thru franchise models: a drive-thru coffee kiosk and the larger hybrid drive-thru/coffeehouse. You can pick the right combination for your type of franchise ownership.
If you have the vision to open multiple units, our world-class Scooter’s Coffee team will support you through development to opening and beyond. Request franchise information today and be on your way to multi-unit ownership success.